Water Overflow vs Water Backup: Whats the Difference?
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And the truth is it doesn’t matter if you live on top of a hill, if you don’t have a basement, if you already have flood insurance or if your home has never had a water backup issue before. Flooding, storm surge, and overflow of outside bodies of water aren’t covered by this endorsement. Home insurance companies consider all past claims filed on your home from the past seven years. If you've filed a lot of claims, they may assume you'll make more claims in the future, and raise your rates accordingly.
For example, this might apply if your furnace is damaged due to a water backup, it’s 30 degrees outside and you can’t heat your home. If you asked homeowners to create a list of situations they hoped to never have to deal with at home, a sump pump failure would likely rank just underneath having a fire. Regularly clean out your gutters and have your pipes flushed every year.
Water Backup and Sump Overflow Coverage
If so, you have an increased risk of a costly insurance claim, especially if you happen to have a finished basement. In fact, claims involving finished basements are, on average, 65 percent more costly those in unfinished basements. Unfortunately, there are many things that can lead to water damage, from floods to snowstorms and to water backup from sewers and drains. This is where water backup coverage comes in; it helps protect you from damage from these unexpected sources.
With a little care, you can reduce your chances of having water backup problems. That not only saves you the hassle of cleanup, but it minimizes the likelihood of filing claim – and that saves you money in the long run. Home insurance doesn’t cover damage caused by wear and tear and lack of maintenance, and this endorsement typically doesn’t either. See if organizations you belong to—such as alumni associations or even your employer—offer discounts on home insurance. Some insurance companies offer retiree discounts, loyalty discounts or discounts for going a number of years without filing a claim. It can cause damage to the foundation, lead to mold, and create long-lasting damage that’s incredibly expensive to fix.
Water Backup Insurance: The Gist of It
The water backup endorsement provides a range of affordable coverage options. The premium charged will depend on your policy form and the coverage limit you select. For example, adding $5,000 of water backup coverage to an HO9 policy costs $45 per year. Your Farm Bureau Insurance agent can review your homeowners policy and provide a no-obligation quote based on your specific policy and needs.
According to Safeco, your home is six times more likely to incur damage from water than fire, and that 250 gallons of water can leak from a 1/8″ pipe crack every day. Intentional acts that caused flooding inside your home are never covered. Water backup coverage has a set limit (typically from $5,000 to $7,000), and is not a part of your main dwelling coverage. Before you move on to the next step, wait for your new coverage to be finalized, receive proof of coverage, and make sure you know the effective date of your new policy.
ANY QUESTIONS?
Although you can switch companies, you’ll need to proceed carefully to avoid cancellation fees and car insurance coverage gaps. Sometimes water backup is unavoidable, but there are several things you can do in order to keep your sewer and sump pump functioning and lessen the chances of sewer backup or sump pump overflow. If you live in an area prone to flooding, it’s a good idea to take out flood insurance as well. People who live close to large bodies of water, such as the ocean, a lake, or a river, are recommended to take out a flood insurance policy. That’s also true for low-lying areas or areas prone to hurricanes and tropical storms.
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When you think about how much you would pay out of pocket to repair water backup damage, that small annual premium seems like a no-brainer. This most commonly occurs when a drain, a sewer or a gutter backs up, or a pump fails, forcing water into your home. This could stem from a heavy rain, debris causing a clog, or even root invasion from your yard outside.
Below are some great ways to prevent water backups that you can add into your cleaning routine. Depending on your insurer, sewer backup deductibles may be equal to your standard deductible amount — like $1,000 — or they may offer a special water backup deductible as low as $250. Also bear in mind that, as with all other types of insurance, you will likely have to pay a deductible before the provider will pay out on your claim. Check with your insurance provider to see what the deductible is, and take that information into account when determining how much you can afford to spend on water backup protection. To learn more about water backup coverage, watch this quick video or review our water backup infographic. Then, talk to your independent agent to make sure you have the right level of coverage in place.
Damage from water backup isn't typically covered by homeowners insurance, so you'll need to purchase an extra policy or endorsement to get this specialty coverage. Water backups, and the accompanying damage they bring, can wreak havoc on your home’s structure and your personal belongings. And unfortunately, it’s not always covered by your standard homeowners insurance policy.
A water backup endorsement can be added to a Farm Bureau Insurance homeowners policy. Policyholders may add the coverage at renewal for homeowners policies that have not yet renewed in 2021. After December 31, 2021 the endorsement can be added at any time during the policy term. Water backup and sump overflow coverage can usually be added to your homeowners insurance to help pay for damage caused by backed up sewers, drains, and sump pumps. Even getting additional flood insurance added to your homeowners insurance isn’t enough, because it doesn’t include water backup and sump coverage. Having water backup insurance in place can ensure you’re fully protected should something unexpected and out of your control occur.
Grange Insurance offers an endorsement called Backup of Sewer and Drains that you can add to your homeowners’ insurance policy. Contact your local independent agentfor full details on coverages and discounts. If the policy coverage descriptions in this article conflict with the language in the policy, the language in the policy applies.
If your home insurance quotes are too high, check your credit report and credit score. Improving your credit by reducing your debt and paying your bills on time could save you money on homeowners insurance. Water backup insurance, also known as sump pump failure insurance, protects you against the damage caused by water backing up into your home. It can be caused from sewers, blocked drains, tree roots, gutters, and more.
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